As the mercury rises with the summer sun, the Colorado real estate market heats up along with it. Some positive economic activity across Colorado has caused a real rise in sales numbers in many regions – as well as definite bump in overall prices.

Over the last twenty-four months, residential values throughout the nation have fallen. In places like Phoenix, the value of an average home has absolutely plummeted nearly twenty-five in the preceding two years. In comparison, Genesse, Colorado, just 20 miles from Denver, has seen the median price of a three-bedroom home rise nearly eighteen percent in the last six months.

In the more famous areas of Colorado, the last twelve months has brought almost thirty percent increases in median residential property values. In places like Vail and Telluride, the typical home’s value has fallen for the last four years, but over the last twenty-four months sales are escalating as buyers take advantage of the low interest rates – driving up prices almost fifteen percent in just the last three months.

A historic view of the Colorado housing trends reveals that even when the economy goes in the tank, real estate does not lose nearly as much value as some other regions of the U.S. Of course, housing prices fall when the economy slows, but Colorado’s natural beauty and cultural diversity seem to retard the decline a little – so when the nation gets its economic house in order real estate in Colorado gets hotter than ever.

The economic downturn of the few years radically shook many Colorado communities. However, even the most impacted regions of the state are witnessing some stabilization. Increasing energy prices have escalated demand for the natural gas produced on scrubland on the western slope. As the energy industry hires additional workers for good jobs the foreclosure numbers have been reduced to pre-2008 levels in many counties. These areas are seeing upward movement on sales numbers as well as housing values as the general Colorado real estate market heats up. Two years ago in Parachute and Battlement Mesa – two small towns in the center of Colorado’s energy industry – close to one-third of the houses stood vacant. Developers built many houses and now those houses are getting increased interest as the economy begins to improve and investors are bidding on homes that were constructed two years previous at the height of the boom but have never been lived in. Often this equates to a brand-new house at up to thirty percent less than it was constructed for.

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on Tuesday, June 28th, 2011 at 4:23 am and is filed under family solicitor.
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